Geithner: "We're Running Out of Time"

The American people know we have to pay our bills, that’s why 74% of Republicans and 77% of independents believe that a deficit agreement should include a mix of revenues and spending cuts, according to a recent Gallup Poll.

Business leaders know we have to pay our bills, that’s why a group of leading business organizations are urging lawmakers to agree to a comprehensive deal to ensure that America pays its bills and reduce the deficit.

And the Treasury Secretary Tim Geithner knows we have to pay our bills, saying today: “We’ve looked at all available options and we have no way to give Congress more time to solve this problem. We’re running out of time.”

Democrats remain ready and willing to work with Republicans on a balanced package – that includes both revenues and spending cuts. But it is time for Republican leaders to accept the reality that they are going to have to work with us, not against us.